Page 15

Chapter 2: Economics: The Framework for Business

82.

The four basic types of unemployment are natural, cyclical, voluntary, and induced. ANS: F DIF: Easy NAT: BUSPROG: Communication KEY: Bloom’s Comprehension

83.

2-6

REF: TOP:

Page 33 OBJ: Employment Level

2-6

REF: TOP:

Page 33 OBJ: Employment Level

2-6

REF: TOP:

Page 34 OBJ: The Business Cycle

2-6

REF: TOP:

Page 34 Price Levels

OBJ:

2-6

Productivity growth due to the infusion of technology enables employees to increase output and measure quality. ANS: F DIF: Easy NAT: BUSPROG: Communication KEY: Bloom’s Comprehension

89.

Page 33 OBJ: The Business Cycle

Inflation occurs as the average prices of goods and services rise. ANS: T DIF: Easy NAT: BUSPROG: Communication KEY: Bloom’s Comprehension

88.

REF: TOP:

Recovery is a period of increased employment, business expansion, and increased consumer spending. ANS: T DIF: Easy NAT: BUSPROG: Communication KEY: Bloom’s Knowledge

87.

2-6

During the peak holiday season, retail workers are hired in great numbers to meet the demands of holiday shoppers. At the end of the holiday season many of those workers are released from their jobs, thus creating seasonal unemployment. ANS: T DIF: Challenging NAT: BUSPROG: Reflective Thinking KEY: Bloom’s Evaluation

86.

Page 33 OBJ: Employment Level

Less expensive labor pools overseas might create layoffs at a U.S.-based engine plant. This is an example of structural unemployment. ANS: T DIF: Challenging NAT: BUSPROG: Reflective Thinking KEY: Bloom’s Evaluation

85.

REF: TOP:

Unfortunately, depressions are a common problem in most free-market economies. ANS: F DIF: Easy NAT: BUSPROG: Communication KEY: Bloom’s Comprehension

84.

57

REF: TOP:

Page 34 Productivity

OBJ:

2-6

REF: TOP:

Page 34 Price Levels

OBJ:

2-6

Disinflation is a slowing in the rate of inflation. ANS: T DIF: Moderate NAT: BUSPROG: Analytic KEY: Bloom’s Analysis

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Test Bank for BUSN 5 5th Kelly  

Test Bank BUSN 5 5th Edition Kelly 2013 (Test Bank Download) (9781111826734) (1111826730). Instant access. All chapter are included. All fil...

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